Adelaida, 53 years of age, is married to a utility man, and they are blessed with three children. She has owned and operated a retail store in their village for almost 13 years and earns a net income of 400 PHP per day. Her profits were spent on the school allowances of her three grandchildren and some of their personal necessities. Due to insufficient funds, she would like to avail a loan amounting to 25,000 PHP to purchase beverages, biscuits, chips, canned goods, and noodles to sell. She's hoping that her requested loan will be granted so that she can be able to expand her business and increase her stocks so she could generate more income.
About Alalay sa Kaunlaran, Inc.
This loan is made possible by Alalay sa Kaunlaran, Inc. (ASKI), which means “a partner in development.” ASKI has been in operation for 25 years and runs multiple successful initiatives in addition to microlending. Its main microfinance branch focuses on lending to microentrepreneurs, small farmers, and fisher folk. ASKI also provides microinsurance and marketing support for borrowers, as well as educational programs to develop the skills of both borrowers and staff. The ASKI Foundation funds community development projects such as a daycare feeding program and scholarships for children. ASKI Global helps overseas Filipinos develop entrepreneurial and financial skills to maximize the impact of remittances.